Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam Sells 2,508 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Northern Oil and Gas Trading Up 1.5 %

NOG stock opened at $39.66 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The company has a fifty day moving average price of $37.65 and a two-hundred day moving average price of $39.09. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 6.43 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. During the same quarter last year, the firm earned $1.49 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday. They set a “buy” rating and a $53.00 price target for the company. Truist Financial decreased their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America raised their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas has an average rating of “Moderate Buy” and an average price target of $46.80.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares in the last quarter. GAMMA Investing LLC raised its stake in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. Arizona State Retirement System raised its stake in Northern Oil and Gas by 2.2% in the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares in the last quarter. Insight Wealth Strategies LLC raised its stake in Northern Oil and Gas by 2.7% in the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock valued at $1,011,000 after purchasing an additional 717 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Northern Oil and Gas by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.